BURL

Burlington Stores Inc.

HALAL — DATA INCOMPLETEstock

Is BURL Halal?

Off-price retail is generally permissible and the latest disclosed asset-based financial ratios pass, with product-mix review still required.

What You Should Know

Burlington's May 2, 2026 filing reports 19.61% interest-bearing debt/assets, 7.64% identifiable liquidity/assets, 8.81% receivables-plus-cash/assets and 0.22% disclosed interest income/revenue. Apparel, home goods and baby products are generally permissible; product-level revenue is not mapped to a universal Sharia taxonomy.

⚠️ Concerns

  • Product mix is not separately mapped to a universal Sharia taxonomy
  • Some apparel and entertainment products require qualitative review
  • Interest income was 6.161 million for the quarter

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-05-02; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
19.61%Within limit
Below 33.333% under FTSE Yasaar

1,917.363 / 9,777.194

Cash + interest-bearing securities / assets
7.64%Within limit
Below 33.333% under FTSE Yasaar

747.355 / 9,777.194

Receivables + cash / assets
8.81%Within limit
Below 50% under FTSE Yasaar

861.339 / 9,777.194

Non-compliant income / revenue
0.22%Within limit
No more than 5% under FTSE Yasaar

6.161 / 2,856.461

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Incomplete

Debt/assets is 19.61%, liquidity/assets is 7.64%, receivables plus cash/assets is 8.81% and disclosed interest income/revenue is 0.22%; financial ratios pass while product classification remains incomplete.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Incomplete

The examined debt, liquidity and receivables-plus-cash ratios pass; product classification remains incomplete and this is not an index-membership claim.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Incomplete

Debt/assets and identifiable liquidity/assets are below the examined Malaysia SAC limits; this is a calculation against SAC ratios, not an official classification.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Not calculated

A properly licensed reproducible 24- or 36-month market-cap history is not stored; a spot estimate is not substituted.

Business-activity disclosure

Burlington is an off-price retailer of apparel, home goods, baby products and accessories. General retail is generally permissible, while product-level clothing and accessory classifications require qualitative review.

Limitation: The filing does not quantify product-level revenue under a universal prohibited-product taxonomy.

Purification

Interest income of 6.161 million is disclosed, but ZakatInvest does not prescribe a fixed scholar-approved purification percentage.

Inputs, assumptions and primary sources
  • Amounts are USD millions converted from Burlington's May 2, 2026 Form 10-Q, which presents amounts in thousands.
  • Interest-bearing debt includes current debt of 20.020 and long-term debt of 1,897.343; operating lease liabilities are excluded.
  • Cash is 747.355 and no separate interest-bearing securities line is reported.
  • Accounts receivable is 113.984 and total quarterly revenue is 2,856.461.
  • Interest income is disclosed as 6.161; product-level revenue is not allocated to a universal prohibited-revenue numerator.

This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.

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